FBN Money Market Fund Annual Report and Financial Statements 2014April 14, 2014 10:00 am
The Money Market Fund closed the financial year ended 31 March 2014 with a total NAV of 20.90bn versus 1.82bn on 30 September 2012. The Fund grew by 1146% over the 18 months period; the growth can be attributed to the appeal of the Fund among investors and the inspiring return of the Fund. The Fund returned an average of 10.56% over the period under review. The positive performance of the Fund was due to the Fund manager’s ability to take advantage of periods of high yields on money market instruments.The Fund underwent another rating exercise and retained its rating of Aa(f).